A cryptocurrency is a virtual currency that relies on a combination of the decentralized public ledger for transactions, cryptographic peer-to-peer transactions, and anonymous user ID. Cryptocurrencies are being called the currencies of the future due to their ultra-fast transactions, little or no transaction fees, secure network and a distributed ledger called blockchain.

A Cryptocurrency is a digital currency that is created through mathematical engineering (algorithm). It is designed to be open, anonymous, secure, fast and bypasses traditional financial structures. Cryptocurrency is a digital currency, based on cryptography and created through a process called 'mining'. Just like the serial number on a paper bill, each digital coin is unique. Bitcoin enables rapid payments (and micropayments) at very low cost, and avoids the need for central authorities and issuers. Unlike money issued by governments, there is a finite number of cryptocurrency, ensuring they cannot be affected by inflation and are impossible to counterfeit. Because cryptocurrencies are not tied to any particular country or central bank, the value of the coin depends on factors such as usability, demand, and supply. When joining Xepay, users become part of a global network of millions of Cryptocurrency miners, who are able to choose among different ways to use their cryptocurrency. You can mine the coin and benefit from its value. You will also be able to make payments and transfer money to and from any part of the world. cryptocurrency's blockchain sets a new industry standard by storing KYC information. It runs every minute and is tailored to meet both customer and merchant needs. With its finite number of 120 billion coins, Cryptocurrency is one of the biggest reserve currencies worldwide. A Cryptocurrency is a digital currency that is created through mathematical engineering (algorithm). Following the popularity of Bitcoin, the world has seen the advent of several cryptocurrencies. The number of merchants who accept cryptocurrencies has steadily increased, and savvy investors have been surfing the digital currency wave. Crypotcurrencies have continued to gain widespread acceptance among consumers across the globe especially in the Asian countries of China, Japan, Philippines, Singapore, Malaysia, and South Korea. It was created for the purpose of making global transactions that are private, secure & anonymous. It is not made or controlled by any central institution, thus making it immune to governmental interference and manipulation. Bitcoin is the world's first digital decentralized currency and payment network. Mining is an essential part of the Bitcoin ecosystem. Mining is the activity that supports the development of Bitcoin and other crypto-currencies. Earnings from mining schemes depend on a lot of factors like the current level of mining competition and the Bitcoin price. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure. Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is the process of using hardware power to mine cryptocurrency such as Bitcoin remotely. Mining gives people a unique opportunity to begin mining cryptocurrency without the need for a large initial investment in hardware or technical knowledge.

Bitcoin is a cryptocurrency that uses blockchain to record its transactions. The system is based on a decentralized consensus network that enables a new payment system and completely digital money. It is the first decentralized peer-to-peer payment network that is operated and maintained by its users with no central authority or middlemen involved. From a user perspective, Bitcoin is pretty much like cash on the Internet. People can buy and sell goods using Bitcoin as a currency as more than 100,000 stores, outlets and other e-commerce units are now accepting Bitcoin as payment. Since it is a peer-to-peer currency, Bitcoin can be used to avoid the government’s overreach and control. This is why governments are trying very hard to keep the Bitcoin in check by mandating Bitcoin exchanges to register with the government and hand over user data when necessary. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Now using Bitcoin and other altcoins can become really easy with the help of a wallet. All you need to do is download an app on your phone or a windows platform version from the coin creator’s official website. Then you login to your account and upload basic mandatory details and your card number which you can use to buy Bitcoin. When you sell Bitcoin, you can accumulate fiat currencies like USD in your account and then cash out when you want. Coinbase, Bitfinex, Bitrex Jaxx wallet, etc is just a few wallets that are extremely easy and useful. A Bitcoin wallet removes several time-taking steps from using Bitcoins. These wallets can be successfully used to make purchases online from a variety of stores.

A blockchain is a public ledger of transactions and all necessary information that is constantly being updated and maintained in a decentralized network. The blockchain technology allows code to be executed exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. Think of blockchains like a chain of information that can never be corrupted once it is written down and the only way a new piece is added by universal consensus and repeated confirmations. The blockchain is the future of not only money transactions but the enforcement of contracts, organizational management and even the internet itself. Each cryptocurrency uses its own brand of blockchain technology to record transactions and keep them safe. Some systems like Ethereum and Stratis are offering something different. They have customizable blockchains that the users can use to their advantage and deploy their own apps on it.

Legal tender is any official medium of payment recognized by a particular government (national currency) to meet financial obligations. Legal tender can only be issued by the nationally-recognized agency that is authorized to do so. e.g. U.S. Treasury (USA); The Royal Canadian Mint (Canada).